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GE wins most 2018 gas turbine orders

Power News - Published on Fri, 15 Feb 2019

Image Source: Yahoo Finance
General Electric Co booked the most orders for electricity-generating gas turbines in 2018 but fell to second place for the largest and most advanced machines, behind Mitsubishi Hitachi Power Systems, according to a closely watched report seen by Reuters and people familiar with the matter. Demand for gas turbines has been tumbling since 2011, stoking fierce competition for deals and prompting manufacturers to slash jobs and close factories. GE is in the midst of a multi-year restructuring of its power business, which lost USD 808 million last year.

The latest rankings show Mitsubishi won 41 per cent of the orders last year for turbines that can produce 100 megawatts or more, compared with 28 per cent for GE and 25 per cent for Siemens AG, according to McCoy Power Reports data.

Among newest-generation turbines, known as "post F-class," MHPS got 49 per cent of orders, compared with 34 per cent for GE and 16 per cent for Siemens, the data shows.

Orders for the most advanced turbines have dwindled along with the entire market, even though they churn out the most electricity per unit of fuel burned. GE suffered a high-profile breakdown with one of its advanced turbines in Texas last year, and warned it may spend $480 million on repairs for the global fleet.

The rankings show GE dominated orders for older-technology F-class turbines and that it had an overall tally of 33 per cent of orders by capacity, compared with 31 per cent for MHPS and 26 per cent for Siemens.

GE is "proud to the leader ... as it has been every year since 2010," spokeswoman Kirstin Carvell said. Siemens did not immediately respond to requests for comment.

Mitsubishi said in a statement that its ranking largely reflected orders for its new J-Series turbine, which the company said has greater than 64 per cent efficiency and 99.5 per cent reliability.

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Posted By : Rabi Wangkhem on Fri, 15 Feb 2019
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